Anand Rathi Share and Stock Brokers Limited — Investor Meet, 20-07-2026: Analysts/Institutional Investor Meet/Con. Call Updates

**Q1 FY27 Earnings Call Transcript Summary**

Anand Rathi Share and Stock Brokers reported a strong Q1 FY27 with revenue up 22% YoY to ₹2,461 million. EBITDA grew 30% YoY to ₹973 million, reflecting a healthy 39.54% margin. PAT before exceptional items surged 71.2% YoY to ₹391 million (16% margin). An exceptional expense of ₹209.96 million was recognized related to fraudulent client transactions.

Management expressed confidence in the capital market's future, driven by India's GDP growth. The company continues to focus on a diversified revenue mix, targeting a 50-50 split between broking and non-broking income. The MTF book is projected to reach ₹1,750-₹1,800 Cr by year-end, with distribution AUM targeted for 40% growth. Strategic priorities include enhancing digital platforms with AI-led insights and deeper client engagement.

The company highlighted its robust risk management for the MTF book, emphasizing it's primarily for cash market transactions and not used for F&O. Management anticipates continued growth and resilience in its business model. The overall sentiment from the call is positive and forward-looking.